State-owned Steel Authority of India Ltd. on Wednesday said it has asked management at all its units to improve efficiency and focus on reducing cost of production.
In a statement, SAIL said the move is part of 'Cost Control Drive' at all its plants and units. "All the plants and units of the company are working on a mission mode to reduce the cost of production with the guiding principle 'Do More With Less'," SAIL Chairman Anil Kumar Chaudhary said.
The steelmaker is also organising a series of workshops at all its plants and units to evolve action plans for improving operations and operational efficiency through enhanced production and better techno-economic performances, better utilisation of raw materials and enhancing revenue generation through other means, he said.
Executives from different units have been grouped into cross-functional teams and tasked to formulate strategies to improve the techno-economic parameters and other cost-related aspects across the organisation, he added.
According to its website, SAIL has five integrated steel plants—Bhilai Steel Plant in Chhattisgarh, Rourkela Steel Plant in Odisha, Bokaro Steel Plant in Jharkhand, and Durgapur Steel Plant and IISCO Steel Plant in West Bengal. It also has three special steel plants, a ferroalloy plant, a subsidiary and several other units.
On Wednesday, SAIL shares rose 0.65 percent to Rs 38.90 apiece on the BSE while the benchmark Sensex gained 0.49 percent to end the day at 41,020.61 points.
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